S-1 Registers 5 Million Shares of UCANN Common Stock in Conjunction with $10 Million Commitment by Tangiers Global
DENVER, CO / ACCESSWIRE / May 10, 2017 / United Cannabis Corporation (OTCQB: CNAB) (the "Company" or "United Cannabis"), the creator of Prana Bio Nutrient Medicinals, today announced that its S-1 registration statement (the "Prospectus") was declared effective by the U.S. Securities and Exchange Commission ("SEC").
The Prospectus covers the resale of United Cannabis' common stock in connection with the Company's December 2016 Investment Agreement (the "Agreement") with Tangiers Global, LLC ("Tangiers"). Under the terms of the Agreement, Tangiers has committed to purchase up to $10 million in shares of the Company's common stock, at a 15% discount to the market price.
This release does not constitute an offer to sell, nor is it a solicitation of an offer to buy the Company's securities, which may only be made by means of a prospectus. The full registration statement can be viewed at the SEC website: https://www.sec.gov/Archives/edgar/data/1436161/000155335017000425/cnab_s1.htm
About United Cannabis Corporation
United Cannabis Corporation is a biotechnology company dedicated to the development of phyto-therapeutic based products supported by patented technologies for the pharmaceutical, medical, and industrial markets. The Company is a pioneer in the application of cannabinoids for medical applications and is building a platform for designing targeted therapies to increase the quality of life for patients around the world. The Company's products are patent protected, first in class medicines with applications to a global market. United Cannabis trades on the OTCQB under the symbol CNAB.
For further information, please visit www.unitedcannabis.us.
SOURCE: United Cannabis Corporation